Is the fact firms didn’t take on trainees during the last economic downturn causing the decline in biotech candidates?
It is no secret that candidates actively looking for a new role have been dropping over recent months. Here at Fellows and Associates, we sometimes have a moment of panic when we wonder if it might actually be us and we have somehow managed to alienate every candidate in the industry. Thankfully however, from speaking regularly to our clients, we know that this isn’t actually the case. Firms have been struggling to fill positions, both directly and through third parties for some time, which has led us to ponder the reasons why. (It is probably worth mentioning here that there is still movement in the market; however a significant proportion of our time is now focused on IP service provider recruitment, with the decline in active candidates most obvious for patent and trade mark attorney roles).
We have a number of opportunities, particularly in biotechnology, which would have attracted a fair amount of activity around two years’ ago. However, in recent times there has been not much more than an intermittent interest – not for the lack of trying by ourselves, the firms looking to hire and the other recruiters they have instructed to help. The roles in question offer the chance to be a part of a commercially focused, modern working environment with huge scope for career progression and the opportunity to be part of some of the most respected teams in Europe. So why are so few candidates interested?
There is a lack of suitable candidates
A lot of firms made the decision to cut back on graduate recruitment during the last recession, as well as some making quite high volume (and high profile) redundancies. As a result there is now a dearth of candidates at newly qualified level, which is no doubt contributing to the strain firms are facing when trying to cover their ever growing workload. This may make it seem impossible to recruit at this level given the fact the candidates seemingly don’t exist, however there are some solutions. Assuming the firm in question is willing to be more open minded in their hiring approach, they can look to Europe for candidates or, if language or salary barriers result in this not being a viable option, countries with similar jurisdictions such as Australia or New Zealand may be the solution.
Looking a little closer to home there is also the option of investing in those with less experience than is required and training them up. Firms could also hire someone with more experience, as long as they are equipped to deal with the tricky internal politics that may occur. With this in mind, it is important from the candidates’ perspective to keep an open mind when reviewing vacancies. Even though we may be asking for an allusive newly qualified attorney, the firm may be open to looking outside of this brief and consider candidates with more or less experience than is stated.
Their current employer is keeping them happy (or they think the grass won’t be any greener)
The fact firms are struggling for candidates has placed a higher value on the employees currently working for them and, as a consequence, they are investing more time in ensuring they are not taken in by the promises of a rival firm. Concerns are being listened to and acted upon, and in the instance where this still doesn’t convince a candidate with itchy feet – there is always the lure of the counteroffer. The problem is that there is an assumption that all firms are the same and that the culture and environment, mix of work and steps to career progression etc. will not change no matter where you move to. This is far from the case and is something we continually try to explain to candidates who may not have initially seen the point in changing firms, as they thought it would be simply moving for movement’s sake. Of course there are firms who are broadly similar, but there are also those that differ drastically from one another. So yes, you may think your employer is meeting all of your expectations and then some, but what’s the harm in investigating some other options and having something to compare your current role to?
The lack of activity is making candidates wary
Up until recently, some opportunities (in particular those in biotechnology) have been rather thin on the ground and as a result candidates have become more tentative in applying now that activity has dramatically picked back up. This is most likely due to the ingrained notion that there will be no ‘fall back’ options should the move not go to plan and an apprehension as to whether there really is enough work to go around. The number of firms now recruiting, whether it is in biotechnology, chemistry or electronics, should really eradicate these fears but it is not surprising that after this past lull candidates have become increasingly more wary. All of the roles we advertise reflect specific instructions from our clients, rather than trying to ‘fish’ for candidates with falsified promises, and we try to reduce the level of uncertainty surrounding a position by discussing it at length and ensuring it is a good fit for the candidates we speak to. So if you’re thinking of moving but are worried the advert seems too good to be true, why not give us a call and find out?
Candidates are simply not looking for a move
Yes I know it’s difficult to comprehend, but sometimes candidates are just happy to stay put. This may not necessarily be down to the conscious efforts of their employer trying to keep them, but the simple fact that their environment, mixture of work or client base etc. reflect where they would like to be in their careers at that exact moment in time. In this instance it is not our job to convince them otherwise but to remain available should they decide that one day (hopefully), their career goals have changed.
So other than acting as a reassurance to ourselves that it is not in fact us repelling candidates, we hope this has shed some light on where all the candidates are hiding (from our perspective anyway). And to all you biotechnology patent attorneys out there, we hope it has convinced you that it’s always worth having a chat with us, even if you’re not actively looking or if you’re unsure as to whether a role is right for you.